2022, 2023 going to the years of recovery and revitalisation of Ghana’s economy – Prez Akufo-Addo
President Akufo-Addo has said that he is optimistic the coming year and 2023 are going to be the years of recovery and revitalisation of Ghana’s economy from the shocks of the COVID-19 pandemic.
He noted that the economy is showing signs that it is bouncing back strongly, adding that there are also indications that the global economy is also recovering from the impacts of the pandemic.
President Akufo-Addo made the remarks in his Christmas message to Ghanaians on Saturday, December 25, 2021. He stated the year has been a tough one and has greatly hit every one globally, individual families as well as every sector of the global economy.
“2021 has proven to be a tough year not only for us, but also for everyone on the planet, the impact of COVID-19 has affected every sector of the global economy and our national life; nothing, in its path, has been spared its ravages”, he said.
For President Akufo-Addo, Ghana’s situation under the COVID-19 would have been worse had it not been the proactive interventions and policies government put in place to cushion Ghanaians.
“Our economy, which was growing at an average of 7% in 2017, 2018 and 2019, grew by 0.4% in 2020, because growth in industry, services, tourism and manufacturing sectors, which drive the economy and provide jobs for many Ghanaians, contracted dramatically in 2020, as a result of the sudden disruption in the global supply chain and the steep decline in the global economy, which sent the global economy into recession.
“This is the stark reality of the situation, not an excuse. Indeed, but for the bold and timely measures put in place by Government to cushion Ghanaians against the worst effects of the pandemic, our situation would have been more precarious.
“For the purposes of propaganda and narrow partisan and parochial interests, some would have you believe that the difficulties we are facing are purely Ghanaian phenomena, made by the NPP government under my leadership. Pay no heed to such persons,” he said.
The President added that government has designed the GHS 100 billion ‘Obaatampa’ Programme for the recovery and revitalization of the economy of which the first phase was completed this year.
“They know the truth, but cannot speak it. The significant fact for me is my determination to pull us out of this situation. Government has designed a solid programme for the recovery and revitilisation of the economy, which is the one hundred-billion-cedi Ghana CARES ‘Obaatampa’ Programme.
“We have completed the implementation of the Stabilisation Phase in 2021, which saw the economy grow at 6.6% in the 3rd quarter of 2021. With a projected overall growth of 4.4% for 2021, 2022 and 2023 will be the years of recovery and revitilisation and faster economic growth,” he added.
